An ordinary, mostly uninteresting geek spouts his opinions.
"No one in a democracy, unelected, should have $800 billion to spend as he sees fit," said Mr. Frank.
The problem is not that he has $800 billion to spend- I don't begrudge someone wealth. The problem is that he has the power to create $800 billion out of thin air and then hold us liable for it. Free market? I think not.
I may not have been clear. I don't begrudge anyone having $800b to spend, either. But I love the fact that this guy thinks no one should have that money to spend... unless you're an elected politician. Then it's ok.Personally, I think it's exactly the opposite. Elected officials spend other people's money. They don't spend their own. As a result, I don't think that elected officials should be allowed to spend any of other people's money.Now, of course, who he's talking about is Ben Bernanke, the FED chairman. Someone who controls $800b of other people's money. But what I think is funny is how he's crafted the rules so that it's ok for him to control $800b but not ok for someone else.
I've been getting a lot of friends from facebook starting to read my blog. I'm glad of that. I look forward to comments, critiques, etc. But please do not reference me or any of my family and friends by name. Here's why.